How Robust Is Your Climate Governance?

Harvard Business Review November-December 2024 issue by Lynn S. Paine, Baker Foundation Professor at Harvard Business School, and Suraj Srinivasan, Philip J. Stomberg Professor of Business Administration at HBS, draws on interviews with 20 directors holding leadership positions on S&P 500 boards. The authors identify eight hallmarks of meaningful climate oversight, including the board being knowledgeable about the company's climate profile, possessing the expertise needed for effective climate oversight, and being able to articulate the company's climate positioning and strategy. The maturity of board climate-oversight varies widely. Useful for SEA mid-market boards being asked to upgrade climate governance under TCFD/IFRS S2 expectations.